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Gaming and Leisure Properties, Inc. Reports First Quarter 2022 Results
WYOMISSING, Pa., April 28, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced financial
About this update from Gaming And Leisure Properties, Inc.
[{"type":"text","content":"WYOMISSING, Pa., April 28, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced financial results for the quarter ended March 31, 2022. Financial Highlights Three Months Ended March 31,(in millions, except per share data) 2022 2021Total Revenue $315.0 $301.5Income from Operations $199.8 $200.1Net Income $121.7 $127.2FFO (1) (4) $180.3 $183.6AFFO (2) (4) $218.6 $195.7Adjusted EBITDA (3) (4) $293.3 $266.6Net income, per diluted common share and OP units(4) $0.48 $0.54FFO, per diluted common share and OP units (4) $0.71 $0.79AFFO, per diluted common share and OP units (4) $0.86 $0.84 ___________________________________ (1) Funds from Operations (\"FFO\") is net income, excluding (gains) or losses from sales of property and real estate depreciation as defined by NAREIT. (2) Adjusted Funds From Operations (\"AFFO\") is FFO, excluding stock based compensation expense, the amortization of debt issuance costs, bond premiums and original issuance discounts, other depreciation, amortization of land rights, accretion on investment in leases, financing receivables, non-cash adjustments to financing lease liabilities, straight-line rent adjustments, gains on sales of operations, net of tax, losses on debt extinguishment, and provision for credit losses, net, reduced by capital maintenance expenditures. (3) Adjusted EBITDA is net income, excluding interest, income tax expense, depreciation, (gains) or losses from sales of property and gains on sale of operations net of tax, stock based compensation expense, straight-line rent adjustments, amortization of land rights, accretion on investment in leases, financing receivables, non-cash adjustments to financing lease liabilities, losses on debt extinguishment and provision for credit losses, net. (4) Metrics are presented assuming full conversion of limited partnership units to common shares and therefore before the income statement impact of non-controlling interests. Peter Carlino, Chairman and Chief Executive Officer of GLPI, commented, \"Our solid first quarter financial results reflect our ongoing initiatives to expand the Company’s high-quality, top-performing regional gaming portfolio managed by the industry’s leading operators. “In this regard, during Q1 we completed the acquisition of the land and real estate assets of Live...